NeuroOne Medical Technologies Corp Stock Forecast
Green day on Thursday for NeuroOne Medical Technologies Corp
(Updated on May 09, 2024)
The NeuroOne Medical Technologies Corp stock price gained 3.57% on the last trading day (Thursday, 9th May 2024), rising from $1.12 to $1.16. During the last trading day the stock fluctuated 8.93% from a day low at $1.12 to a day high of $1.22. The price has risen in 5 of the last 10 days and is up by 4.5% over the past 2 weeks. Volume fell on the last day by -63 thousand shares and in total, 92 thousand shares were bought and sold for approximately $106.27 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect NeuroOne Medical Technologies Corp stock with a 90% probability to be traded between $1.01 and $1.36 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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NMTC Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The NeuroOne Medical Technologies Corp stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $1.17 and $1.18. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 09, 2024, and so far it has fallen -8.66%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for NeuroOne Medical Technologies Corp stock
NeuroOne Medical Technologies Corp finds support from accumulated volume at $1.12 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have controlled movements and therefore the general risk is considered low. However, be aware of low or falling volume and make sure to keep an eye on the stock. During the last day, the stock moved $0.1000 between high and low, or 8.93%. For the last week the stock has had daily average volatility of 6.84%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (NMTC) For The Upcoming Trading Day Of Friday 10th
For the upcoming trading day on Friday, 10th we expect NeuroOne Medical Technologies Corporation to open at $1.17, and during the day (based on 14 day Average True Range), to move between $1.08 and $1.24, which gives a possible trading interval of +/-$0.0776 (+/-6.69%) up or down from last closing price. If NeuroOne Medical Technologies Corporation takes out the full calculated possible swing range there will be an estimated 13.38% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $1.17 (0.86%) than the support at $1.12 (3.45%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Earnings coming up
NeuroOne Medical Technologies Corporation will release earnings BMO on Thursday, May 09, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.100. We will update the financials statements for NeuroOne Medical Technologies Corporation, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 11.69% in the first trading day after earnings release.
Is NeuroOne Medical Technologies Corporation stock A Buy?
NeuroOne Medical Technologies Corp holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -2.015 Sell Candidate Unchanged
Predicted Opening Price for NeuroOne Medical Technologies Corporation of Friday, May 10, 2024
| Fair opening price May 10, 2024 | Current price |
|---|---|
| $1.17 ( 0.575%) | $1.16 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NMTC
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.27 | 9.20 % | |
| R2 | 1.23 | 5.90 % | ||
| R1 | 1.20 | 3.87 % | ||
| Current price: | 1.16 | |||
| Support | S1 | 1.13 | -2.72 % | |
| S2 | 1.10 | -4.75 % | ||
| S3 | 1.07 | -8.05 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.38 | 18.97 % | |
| R2 | 1.27 | 9.48 % | ||
| R1 | 1.17 | 0.86 % | ||
| Current price | 1.16 | |||
| Support | S1 | 1.12 | -3.45% | |
| S2 | 1.08 | -6.90% | ||
| S3 | 1.05 | -9.48% |
FAQ
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